BUSINESS
Lower burn, longer delivery time: What Zepto's pitch deck reveals about quick-commerce space
The deck not only sheds light on granular details about Zepto but also gives colour on the buzzy but intensely competitive quick-commerce space.
BUSINESS
Bullish on India: IPOs become attractive exit option again as tech stocks soar
The recent bull run is significant because it follows a long bearish period when public shareholders questioned the profitability of these companies. The improved financial performance of tech companies is now forcing other new entrants to focus on better financials before approaching the market.
BUSINESS
D2C consolidation: Value creation for FMCG majors, wealth creation for founders
Smaller D2C companies have struggled to convince financial investors to fund them and have sought refuge under the wings of traditional FMCG players
TRENDS
Flipkart parent Walmart India seeks to cut share capital to adjust losses
Flipkart told Moneycontrol that reduction of share capital will not have any impact on creditors and shareholders of the company.
BUSINESS
Meesho turned profitable in July on a PAT basis, says CFO
While Dhiresh Bansal did not comment on specific numbers, Meesho’s PAT was a low single digit (Rs crore) in July, Moneycontrol has learnt.
BUSINESS
After Swiggy, Zomato begins testing platform fee on food orders
While a platform fee of Rs 2 may look small as it only represents 0.5 percent of Zomato’s average order value (AOV) of around Rs 415, it would still amount to a large corpus.
BUSINESS
Tiger Global-backed Spinny fires 300 employees in business rejig
Spinny has about 6,000-6,200 employees and the sackings have hit around 5 percent of the workforce, as Truebil and Spinny Max prepare to merge and operate under the main brand
BUSINESS
Corporate governance lapses at start-ups prompt LPs to opt for direct investments; VCs lose out
As professionals who charge a fee, VCs are expected to be on top of things at the companies they fund. Laxity on this front has seen LPs get into action.
BUSINESS
DealShare CEO Vineet Rao steps down; company moves base to Delhi
All staffers from non-tech divisions are being asked to relocate to Delhi within three months because the region is becoming more important for DealShare.
BUSINESS
End of an era as Binny Bansal, Accel and Tiger Global exit Flipkart with bumper returns
Walmart has bought out Flipkart early investors Accel, Tiger Global and co-founder Binny Bansal has also fully divested his stake in Flipkart which is valued at around $35 billion.
BUSINESS
Dunzo promises to pay 12% yearly interest on held-back salaries
For instance, an employee who was earning Rs 1 lakh a month but was paid only Rs 75,000, because of Dunzo’s decision, in June will now receive an interest of 12 percent per annum on the remaining Rs 25,000.
BUSINESS
Dunzo slapped with legal notices from seven companies over pending dues
From around March this year, Dunzo has received a legal notice from at least seven entities which include Google India, Nilenso, Clover Ventures, Facebook, Cupshup, Koo and Glance. In all, these total to about Rs 11.4 crore, nearly double of Rs 5-6 crore that was estimated earlier.
BUSINESS
Swiggy begins second tranche of ESOP buy back totalling to $50 mn from 2,000 employees
This will be the company’s fourth ESOP liquidation since 2018 and now values Swiggy's similar to Zomato, its BSE-listed peer, which had a market capitalisation of $8.7 billion on July 24, Moneycontrol has learnt.
BUSINESS
Wingreens Farms in talks to raise $10 mln from Investcorp, Peak XV and others
So far, Wingreens has already raised around $46 million from Omidyar Network India, Zurich-based responsAbility Investments AG, Investcorp, Peak XV and others
BUSINESS
Dunzo’s fall from grace: From a first-mover in 2014 to struggle for survival in 2023
It was a task-running service that initially operated on WhatsApp, and found quick loyalists in Bengaluru nine years ago. Now employees are telling the management, ‘give us one reason why we should work here?’ It’s a story of flawed cash management, valuation and transparency issues, and more.
BUSINESS
Dunzo served legal notices by Facebook, Nilenso over unpaid dues of Rs 4 cr
Dunzo has made part payments to Facebook but still owes about Rs 1.5 crore to the tech giant. Dunzo had availed Facebook’s advertising services but did not pay the entire amount for the same.
BUSINESS
Dunzo to undertake third round of layoffs in 2023 as it crumbles under cashflow issues
Senior employees estimated that at least 20 percent of the company’s workforce — approximately 200 employees — will be affected.
BUSINESS
Dunzo misses salary deadline, to credit pending dues on September 4
Dunzo's payroll team told employees in an email that their salaries will be credited on September 4 as it works on streamlining its cash flow.
BUSINESS
Swiggy forms dedicated team to work on AI
While bringing down the total operational costs by leveraging AI was one outcome for Swiggy, it wasn’t the only goal for the startup
BUSINESS
Big Billion Day for 19,000 current & former Flipkart employees; company begins crediting $700 mn in ESOP payouts
Moneycontrol had earlier reported that Flipkart will buy back employee stock options (ESOPs) worth about $700 million from employees as a part of its move to separate full ownership of payments and financial services unicorn PhonePe
BUSINESS
Tomato omelettes and salads go missing; Puree in demand as tomato prices soar
Soaring prices force buyers to explore alternatives, hotels take tomato-heavy items off menu.
BUSINESS
Dunzo caps salaries at Rs 75,000 for June, promises to clear dues by July 20
The salary deferrals were understood to impact senior employees at Dunzo the most. Moneycontrol has learnt that around 60-65 percent of all workers were paid their full salaries and the remaining, about 35-40 percent of them, had only received Rs 75,000 as their June salary.
BUSINESS
Swiggy has no control over valuation markdowns, says food marketplace CEO Rohit Kapoor
The CEO of Swiggy’s core business said that while the company remains excited about quick-commerce, there is consolidation underway and there are only three to four significant players in the sector
BUSINESS
Google-backed Dunzo defers June salaries for 500 employees
Dunzo has over 1,000 employees in total and the latest decision to defer salaries will impact about 500 of them. The move also indicates that there could be more layoffs in the pipeline.
